InvenTrust Properties Corp. (NYSE:IVT) Stock Has Average Price Target of $34.57 According to Brokerages

Shares of InvenTrust Properties Corp. (NYSE:IVT) have been assigned a consensus rating of “Moderate Buy” from the seven brokerages that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $34.57.

A number of brokerages recently issued reports on IVT. Wells Fargo & Company set a $34.00 price target on InvenTrust Properties and gave the company an “overweight” rating in a report on Friday, October 23rd. Truist Financial set a $32.00 price objective on InvenTrust Properties and gave the stock a “hold” rating in a report on Thursday, October 1st. Weiss Ratings downgraded InvenTrust Properties from a “buy (b)” rating to a “hold (c)” rating in a research report on Thursday, August 13th. Wall Street Zen downgraded InvenTrust Properties from a “hold” rating to a “sell” rating in a research report on Saturday, July 18th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $37.00 price objective on shares of InvenTrust Properties in a research note on Friday, August 28th.

InvenTrust Properties Stock Down 0.7%

Shares of IVT opened at $30.11 on Monday. The firm has a fifty day moving average price of $31.05 and a 200-day moving average price of $32.05. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $2.35 billion, a P/E ratio of 150.53, a P/E/G ratio of 2.45 and a beta of 0.77. InvenTrust Properties has a 12-month low of $26.81 and a 12-month high of $37.22.

InvenTrust Properties (NYSE:IVT) last released its quarterly earnings data on Tuesday, October 27th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.22. The company had revenue of $87.12 million during the quarter, compared to analysts’ expectations of $84.18 million. InvenTrust Properties had a net margin of 4.80% and a return on equity of 0.85%. Equities research analysts expect that InvenTrust Properties will post 1.95 earnings per share for the current year.

InvenTrust Properties Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $1.00 dividend on an annualized basis and a yield of 3.3%. InvenTrust Properties’s dividend payout ratio (DPR) is 500.00%.

Hedge Funds Weigh In On InvenTrust Properties

Several institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. raised its position in shares of InvenTrust Properties by 24.9% in the 1st quarter. Principal Financial Group Inc. now owns 7,729,381 shares of the company’s stock worth $235,438,000 after acquiring an additional 1,539,672 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in InvenTrust Properties by 8.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,071,380 shares of the company’s stock valued at $32,635,000 after purchasing an additional 80,985 shares in the last quarter. Wellington Management Group LLP boosted its position in InvenTrust Properties by 1,843.1% during the second quarter. Wellington Management Group LLP now owns 647,037 shares of the company’s stock valued at $22,905,000 after purchasing an additional 613,738 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in InvenTrust Properties during the second quarter valued at about $19,354,000. Finally, Adelante Capital Management LLC purchased a new position in InvenTrust Properties in the second quarter valued at about $13,400,000. 61.70% of the stock is owned by hedge funds and other institutional investors.

InvenTrust Properties Company Profile

InvenTrust Properties Corp. (NYSE: IVT) is a self-managed real estate investment trust that owns, leases and manages open-air, grocery-anchored shopping centers. Its properties are generally focused on necessity-based retail, including grocery stores, restaurants, health and wellness providers, and other service-oriented businesses.

The company’s portfolio is concentrated in high-growth markets across the Sun Belt region of the United States, including communities in the Southeast, Southwest and Texas.